Ipek Ozkardeskaya
Swissquote Bank Ltd
It’s yet another day of stimulus announcements in China, and another round of letdowns for investors. Chinese authorities today announced to almost double the amount it deployed to support what’s called ‘white list’ projects but investor appetite barely improved. Copper, iron ore futures are down and US crude is under pressure.
Elsewhere, the US Dollar extends gains across most majors. Softer-than-expected British and Canadian figures weigh on sterling and Loonie, while the EURUSD sank below the 200-DMA ahead of today’s European Central Bank (ECB) decision and Lagarde’s post-decision presser.
In equities, Morgan Stanley announced better-than-expected results as its peers and TSM earnings beat estimates hinting that Nvidia may have had another very good quarter.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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